Replies (7)
Bro you’re a trader taking short positions and have no clue where the market is going. Nobody does
Also I could be wrong nothing is certain but I’m not going to look out the window and see a bear and scream “oh my god a bull!”
What makes the trend bearish? Lower highs, lower lows?
Yes but there are some other signs like we broke below a major trend line that has been holding up for years, April crash still bounced off the trend line. There are also a ton of similarities between the 2021 peak and 2025. Price was making new highs but the RSI was making lower highs same as previous cycles. The current bounce is staying within the current downtrend line so it still looks more like a relief rally than a reversal. Not saying it isn’t possible but is looking unlikely. The trend is right until it breaks or shows signs of breaking, nothing yet.
Yes, it could be a relief rally. We did break through 2 fib levels real fast.
That’s more the technical side on a fundamental side some red flags were insane demand by ETFs and MSTR yet lackluster price action. A lot of early bitcoiners sold a shit ton, so either a/ lost faith in bitcoin or b/ getting out expecting to buy back lower. Whales are not dumb they are whales for a reason so either way it looks bearish. There is also all the core / knots drama which is very bad for sentiment. We also had a very bearish Q4 which is typically fireworks time, this coinciding with rate cuts also bullish, the fact that these bullish news events were met with bearish price action is a clear sign. It a bull market the price shrugs off bearish news and climbs higher in a bearish market it shrugs off bullish news and goes lower.
To be expected off such a sharp decline one of the sharpest in its history. Never goes straight down just like it never goes straight up and still within the down trend.
